ADVERTISEMENT
By KAZUNGU SAMUEL
More by this Author
SUMMARY
- Kenya will look for buyers once trucks stockpile 200,000 barrels of crude at the Mombasa Port.
- This is half the stockpile of 400,000 that the State had earlier announced before the kick-off of shipments.
- It means the export date will be brought forward as opposed to the first quarter of 2019 as earlier estimated.

ADVERTISEMENT
ADVERTISEMENT
ECONOMY
State cuts Turkana oil export period on reduced stock
THURSDAY, JUNE 7, 2018 22:45
PETROLEUM CHIEF ADMINISTRATIVE SECRETARY JOHN MOSONIK (RIGHT) AND OTHER RECEIVE THE CRUDE OIL OFFLOADING PIPE AT THE KENYA PETROLUEM REFINERY IN CHANGAMWE ON JUNE 7, 2018. PHOTO | LABAN WALLOGA
Kenya seeks to bring forward the export date for its early oil following the decision to ship out half the planned amount of the first stored cargo.
Petroleum chief administrative secretary (CAS) John Mosonik said the country will look for buyers once trucks stockpile 200,000 barrels of crude at the Mombasa Port.
This is half the stockpile of 400,000 that the State had earlier announced before the kick-off of shipments.
It means the export date will be brought forward as opposed to the first quarter of 2019 as earlier estimated.
Also Read
EconomyFirst Eurobond debt repayment to cost taxpayers Sh97.7bn
EconomyMilitary gets Sh4bn more for buying weapons
Mr Mosonik on Thursday oversaw the arrival of the first four trucks with crude at the Mombasa defunct refinery which has been converted into a storage facility. The trucks were flagged off by President Uhuru Kenyatta on Sunday.
It marked the kick off of the early oil export scheme (EOPS) that has dragged on since mid-last year.
The small-scale export plan aims to test the global supply logistics and determine the price-point for the Turkana oil.
Up to 110 trucks will haul some 2,000 barrels of oil per day under the early oil export plan.
READ:
President Kenyatta flags off Kenya's first crude oil exports
Each truck has a capacity to haul 150 barrels of crude and will take 10 days to do a round-trip. It will be stored at the ageing refinery.
“Some of the completed works in this depot is the modification and insulation of the receipt tank with a capacity to hold 90,000 barrels, two adjacent truck unloading bays, a steam boiler for line heating and re-heating the crude oil trucks if necessary,” said Charles Nguyai, the CEO at the Kenya Petroleum Refineries Ltd (KPRL).
Oil movement will be by road for about two years ahead of the construction of an 865-kilometre crude pipeline that will allow commercial shipments.
Kenya’s recoverable reserves are estimated at 750 million barrels of crude and considered commercially viable.
Oil looks set to diversify the country’s exports, boost hard currency inflows and ultimately make imports like cars and machinery more affordable.
ADVERTISEMENT
by Taboola
Sponsored Links
You May Like
Flights In Czech Republic At Ridiculously Low PricesSave70.com
20 Foods That Are Killing You Slowlyhealthyandpretty
Top 30 Most Beautiful Women in the Worldfannntastic-woman
Prozkoumejte 4 destinace v Indickém oceánuLette s Emirates
20 Amazing Watches That You Can AffordThe Inner Beast
Easiest Ways to Immigrate to Canada From Czech RepublicDestinationON

1.3 million Kenyans file tax returns ahead of deadline[/paste:font]BY DOREEN WAINAINAH
7 HOURS AGO

Cooking gas re-fillers face probe over cylinder hoarding
BY JAMES KARIUKI
12 HOURS AGO

Sh46m fakes netted in Chinese warehouse
BY BONFACE OTIENO BY BRIAN OCHARO
1 DAY AGO

Uhuru now tells 15 PSs to go
BY IBRAHIM ORUKO
1 DAY AGO
ECONOMY
NEWS
CountiesEast AfricaWorld
CORPORATE
CompaniesEnterpriseHealthIndustryMarketPlaceShipping & LogisticsTechnology
LIFESTYLE
BD LifeArtFashionDesign & InteriorsGardeningFood & DrinksHealth & FitnessMan About TownMusicPersonal FinanceProfilesSocietyTravelBook Review
OPINION & ANALYSIS
ColumnistsEditorialsIdeas & DebateLetters
MARKETS
Capital MarketsCommoditiesCurrenciesGlobal MarketsMarket News
DATA HUB

Apps
Information
NMG Sites
Follow us
Business Daily
Ad